Emirates places $18 billion Boeing order
An Emirates A380 Airbus- the world’s largest passenger aircraft taxis after touchdown at terminal T-3 of Indira Gandhi International Airport in New Delhi on July 15, 2010.
Emirates airline on Sunday announced that it was ordering 50 Boeing 777s, a deal worth $18 billion, making it Boeing's largest-ever order in dollar terms, the Associated Press reported.
Because it is buying in bulk, the AP notes, Emirates is unlikely to pay all $18 billion for the planes, which will be extended range versions of the 777-300. But the airline also has an option to purchase another 20 planes later on, which would push the order's face value to $26 billion.
"The 777 has really served Emirates very well in terms of the seat cost, especially when we see that the fuel price today is very high,” Emirates Chairman and CEO Sheik Ahmed bin Saeed Al Maktoum said Sunday.
According to Reuters, the deal came as part of the Dubai Air Show. James Albaugh, chief of Boeing's commercial division, told Reuters that the order would sustain thousands of U.S. jobs.
The Wall Street Journal reported Sunday that Emirates' move is the latest in a year in which Middle East-based carriers, including Qatar Airways and Abu Dhabi's Etihad, have continued "bold growth strategies," adding routes and growing fleets.
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